Private
Kleinwort Hambros launched an exchange-traded note ()
made up of -related
companies, financial news outlet Finextra on April
8.

Kleinwort Hambros is owned by Societe Generale, acting as their
private wealth management division in the United Kingdom.
Societe Generale itself is a multinational investment bank
headquartered in Paris, with total assets of around 1.3
trillion euros ($1.4 trillion) in 2018.

Per the report, the new is
available for a minimum investment of £1,000 (equivalent to
about $1,300) and has been listed in .
The
reportedly include 20 companies which are expected to profit
from blockchain and distributed ledger technology () adoption.

More precisely, the companies are expected to earn revenue
through the sale of relevant software and services or improve
their profit margins with the adoption of decentralized
technologies.

The companies that make up the ETN reportedly come from the
technology, shipping, and gas, custody
and industrials industries. The press release quotes John
Birdwood, portfolio manager at Kleinwort Hambros, as stating
that the bank noticed increasing interest on their clients’
part towards blockchain, prompting the development of the
product.

Kleinwort Hambros, according to a released by
the company in March 2018, has £16.3 billion of assets (around
$21 billion) under management, over a thousand employees, and
offices in , Cambridge,
Newbury, Leeds, Edinburgh, Guernsey, Jersey and .

As Cointelegraph in January, Ed Tilly, CEO, president and chairman
at the , declared that there is a need for
Bitcoin ()
exchange-traded notes in order for Wall Street institutional
investors to join the crypto space.

At the end of March, the has its decision on a rule change to the Securities Act
that would allow the listing of Bitcoin exchange-traded funds
().

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